Daily Market Wrap: May 10, 2012 Thursday, May 10, 4:57 PM ET
Stocks climbed back into positive territory after news of a better than expected jobs report that gave investors a sense of optimism.
The Labor Department is reporting a drop in weekly claims for unemployment last week, falling 1000 to a seasonally adjusted 367,000.
369,000 was the number economists were expecting.
Also on the economic front, the US trade deficit widened to $51.8 billion in March, which was more than expected, and also marked the fastest rate in 10 months.
Cisco Systems (NASDAQ:
CSCO) beat earnings expectations, but posted disappointing guidance, sending shares lower today.
Shares of Kohl's (NYSE:
KSS) are also trading lower today, after the retailer posted a steep drop in earnings, due to price cuts.
In M&A news, Coty upped its bid to acquire Avon Products (NYSE:
AVP) to about $10.7 billion. Coty said the offer will be withdrawn if Avon doesn't enter into discussions by Monday, May 14th.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Nvidia (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Thursday Sector Laggards: Music & Electronics Stores, Airlines
Related symbols: CONN, JD, ATSG, JBLU
Thursday Sector Leaders: Gas Utilities, Advertising Stocks
Related symbols: RGCO, SXE, TRMR, CCO
Wednesday Sector Laggards: Oil & Gas Equipment & Services, Oil & Gas Exploration & Production Stocks
Related symbols: ANW, NE, EXXI, TRCH
EWW, IYJ: Big ETF Outflows
Related symbols: EWW, IYJ, GE, BA
XLI, EEMA: Big ETF Inflows
Related symbols: XLI, EEMA, GE, BA, BABA, BIDU
Thursday's ETF with Unusual Volume: IXG
Related symbols: IXG, BAC, KEY, BCH, BHF
Daily Dividend Report: NOC, WMB, ROST, NTAP, NOV, TIF
Related symbols: NOC, WMB, ROST, NTAP, NOV, TIF
Daily Dividend Report: KSU, PF, UNH, MMM, MTB, AAN
Related symbols: KSU, PF, UNH, MMM, MTB, AAN
Daily Dividend Report: COH, WHR, AAP, THG, DKS, MLI
Related symbols: COH, WHR, AAP, THG, DKS, MLI
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Daily Market Wrap: May 10, 2012
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